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�012093 except for encumbrances of record. Borrower warrants and will defend genera(ly the titie to the Property against all claims and demands, subject to any encumbrances or record. 1. Payment of Principal and Interest. Borrower shall pay, when due and payable, the principal sum of the debt evidenced by the Note and according to the terms of the Note. 2. Occupancy. Bonower shall own and occupy, establish and use the Property as Borrower's sole residenc,e and shall continue to occu y the Pr�perty as Borrower's sole residence for at least 36 (thirty-six) months, beginning on (�C� .�q�� ,�l-� [insert date of commencement of Owner-occapant period — thirty (30), ninety (90} or one hundred eighty (180) days after closingJ and ending on (�[ �{� o?..� � ff f��f3 (thirty-six) months after date of comraencement]. 3. Fees. Lender may collect fees and charges authorized by the Note. 4. Grounds for Acceleration of De6t. Lender may require immediate payment in full of all sums secured by this Security Instrument as evidenced by the Note after any default by the Borrower occurs as described in paragraph 5 of the Note. 5. Foreclosure Procedure. [For- illustration only. Needs adaptation, per the dnstrucdion relating to paragraph I8 of the model mortgage form in appendix II of HUD handbook 4165.1 REY 2.] If Lender requires immediate payment in full under Paragraph 4 above, Lender may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in the paragraph 5, including but not limited to, reasonable attorney's fees and cost of title evidence. If Lender invokes the power of sale, Lender shall give notice to borrower in the manner provided in paragraph 7 below. Lender shall publish and post the notice of sale, and the Property shall be sold in the manner prescribed by applicable law. Lender or its designee may purchase the property at any sale. The proceeds of the sale shall be applied in the following order: (a) to all expenses ofthe sale, including but not limited to, reasonable attorney's fees; (b} to all sums secured by this Security Instrument as evidenced by the Note; and (c) any excess to the person or persons legally entitleti to it. [The following language is mandatory in ald cases.] Ifthe Lender's interest in this Security Tnstrument is held by the Secretary and the Secretary reyuires immediate payment in full under Paragraph 4, the Secretary may invoke the nonjudicial power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act) (12 U.S.C.3751 et �.) by requesting a foreclosure commissioner designated under the Act to commence foreclosure and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the Secretary of any rights otherwise available to a Lender under this Paragraph 5 or applicable law. �� L